HomeMy WebLinkAbout2529 MTG-1-A-4/23/73
property described in paragraphs (A) ,(8) and (C) hereof.
Mortgagee shall have the right, at any time and from time to
time, to notify any lessee of the rights of Nbrtgagee as pro-
vided by this paragraph. From time to time, upon request of
Mortgagee, Mortgagor shall specifically assign to Mortgagee
as additional security hereunder, by an instrument in writing
in such form as may be approved by Mortgagee, all right, title
and interest of Mortgagor in and to any and a21 leas~s now or
hereafter on or affecting the Mortgaged Property, together
with all security therefor and all monies payable thereunder,
subject to the conditional permission hereinabove given to
Mortgagor to collect the rentals under any such lease. Mort-
gagor shall also execute and deliver to Mortgagee any notifi-
cation, financing statement or other document reasonably re-
quired by Mortgagee to perfect the foregoing assignment as
to any such lease.
This instrument constitutes an absolute and present
assignment of the rents, royalties, issaes, profits, revenue,
income and other benefits from the Mortgaged Property, subject,
however, to the conditional permission given to Mortgagor to
collect, receive, take, use and enjoy the same as provided
hereinabove; provided, further, that the existence or exercise
of such right of Mortgagor shall not operate to subordinate
this assignment to any subsequent assignment, in whole or in
part, by Mortgagor, and any such subsequent assignment by Mort-
gagor shall be subject to the rights of Mortgagee hereunder.
(F) FIXTURES AND PERSONAL PRdPERTY. TOGETHER WITH -
a security interest in i all property and fixtures affixed to
or located on the property described in paragraphs (A), (B) and
(C) hereof which, to the fullest extent permitted by law shall
be deemed fixtures and a part of the real property, (ii) all
articles of personal property and all materials delivered to the
property described in paragraphs (A) ,(B) and (C) hereof for use
in any construction being conducted thereon, and owned by Mort-
gagor; (iii) and all contract rights, general intangibles, ac- '
~ tions and rights in action, including all rights to insurance '
~ proceeds, and (iv) all proceeds, products, replacements, addi-
! tions, substitutions, renewals and accessions of any of the fore-
; going. Mortgagor (Debtor) hereby grants to Mortgagee (Cred~tor)
a security interest in all fixtures, rights in action and per- ,
sonal property described herein. This Mortgage is a self-
operative security agreement with respect to such property, but
Mortgagor agrees to execute and deliver on demand such other
B security agreements, financing statements and other instruments
as Mortgagee may request in order to perfect its security in-
~ terest or to impose the lien hereof more specifically upon any
of such property. Mortgagee shall have all the rights and
remedies in addition to those specified herein of a secured .
party under the Uniform Commercial Code.
~ Everything referred to in paragraphs (A) , (B) , (C) , (D) ,
~ (E) , and (F) hereof and any additional property hereafter acquired
~ by Mortgagor and subject to the lien of this mortgage or intended
to be so is herein referred to as the "Mortgaged Property."
TO HAVE AND TO HOLD the Mortgaged Property and all
_ parts thereof unto Mortgagee, its successors and assigns, to
- its own proper use and benefit forever, subject, however, to
the terms and conditions herein:
.
PROVIDED, HOWEVER, that if Mort a or shall rom tl
9 9 P P Y
~ pay or cause to be paid to Mortgagee the principal and interest
~ payable under the.Note, at the times and in the manner stipulated
therein, herein and in all other instruments securin the
~ Note, all without any deduction or credit for taxes or other
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